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Public Provident Fund (PPF) Account
Public Provident Fund (PPF) scheme is a popular long term investment option backed by Government of India which offers safety with attractive interest rate and returns that are fully exempted from Tax .Investors can invest minimum Rs. 500 to maximum Rs. 1,50,000 in one financial year and can get the facilities such as loan, withdrawal and extension of account.
Eligibility for opening PPF account
Public Provident Fund (PPF) account can be opened by resident Indian Individuals and individuals on behalf of minors
With ICICI Bank, opening of PPF account is simple and hassle-free. If you are an existing customer, you will need to fill the form and submit it with the KYC documents to the nearest ICICI Bank branch.
If you are a new customer, open an ICICI Bank Savings Account along with a PPF account.
PPF Product Features
- Attractive interest rate of 7.9% that is fully exempted from Income Tax under section 80 C
- Good long term investments of 15 years
- Deposit Amount as low as Rs.500 and maximum Rs.1,50,000 in one financial year
- Deposits can be done maximum in 12 transactions
- Loan can be availed between 3rd to 6th financial year
- Partial withdrawal facility can be availed from 7th financial year onwards
- Account can be extended in a block period of 5 years after maturity
PPF account with ICICI Bank offers you benefits such as
- Transfer funds online option from linked Savings Bank Account
- Standing Instruction facility to ensure regular investment
- Viewing your PPF Account statement online
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